It has been common to say that the main strength of the US political system is its checks and balances. The three branches of Government are balancing each other out, and the free press and civil society in its many forms contribute with more checks on the system. Sometimes this is still true. But in many cases the result is dead-lock and a non-functional system. Most worrying is that in the fundamental case of war and peace, it simply does not work. This puts the whole world in danger.

Independently of the outcome of the Paris Climate Change summit, big oil and coal have started an irreversible decline, facing the competition from renewable energies and an increasing political pressure to de-carbonize our societies. This changes completely the game and eliminates the incentive to reduce supply to get higher prices. In stead, the rush is now to exploit the oil and gas before it is too late. Who comes too late, loses. So OPEC has lost its power for good, and there is no chance it will get it back again.

Everybody has probably heard about Venezuelan President Hugo Chávez' weapon deals. Tanks and anti-air missiles from Russia, warships from Spain, training jets from China, air defence systems from Belarus. The US has expressed its concern that Venezuela is provoking an arms race in South America. Its actions could endanger regional stability the US says. Really? Venezuela is number 5 in Latin America in military spending, both in absolute terms and as percentage of GDP. The Latin American leaders in military spending are two close US allies: Colombia and Chile, which in relative terms spend almost three times what Venezuela does.